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SOCAR ups contributions to state budget in January - July

Oil&Gas Materials 10 August 2012 17:10
SOCAR transferred 791.64 million manat to the state budget in Jan.-July, or 106.31 million manat (15.5 percent) more than in the same period of last year, SOCAR said on Friday.
SOCAR ups contributions to state budget in January - July

Azerbaijan, Baku, Aug.10 /Trend E.Ismayilov/

SOCAR transferred 791.64 million manat to the state budget in Jan.-July, or 106.31 million manat (15.5 percent) more than in the same period of last year, SOCAR said on Friday.

According to the report, SOCAR transferred about 91.47 million manat to the State Social Protection Fund in January-July, or 14.49 million manat (18.8 percent) more than in the same period of last year.

SOCAR includes production association Azneft (companies producing oil and gas on land and sea), Production Association Azerkimya (chemical industry), production association Azerigas (gas distribution).

SOCAR is the only producer of oil products in the country (it has two refineries on its balance sheet) and also owns petrol stations in Azerbaijan, Georgia, Ukraine and Romania. SOCAR possesses a network of petrol stations in Switzerland. SOCAR is co-owner of the largest Turkish petrochemical complex Petkim.

Official exchange rate on Aug 10 is 0.7854 AZN/USD

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